The Mobile Wallet

By: Nick C

Mobile phones have revolutionized the way we live. They have become our permanent link between family and friends; they are our source of information and entertainment and they document our lives in pictures and video. There are mobile phone deals available that suit everyone, so not actually owning a mobile phone nowadays places you in a minority.

Has mobile phone technology gone as far as it can go? Well, not quite. It looks likely that the next development could be for your mobile phone to become a replacement for your wallet.

The system is based on a "contactless" technology that is already in use today. Key fobs, credit cards, driving licenses and passports are already incorporating them into their design and the next step is for your mobile phone to have one also.

In the future, the next time you pay for something, instead of reaching for you wallet, you could be reaching for your mobile phone. All you need do is wave it over a scanner at the checkout.

Companies working on this technology say that the security is solid. The data that travels from your phone to the scanner will be encrypted and the process of making mobile phones secure is apparently a fairly straightforward process.

The Japanese mobile phone operator DoCoMo introduced a mobile-wallet service three years ago. They have reported that the mobile-wallet service that they have incorporated into their mobile phones has been hugely popular. DoCoMo subscribers can use their phones to pay for taxis as well as being able to use them in countless convenience stores.

The success of the mobile wallet concept in Japan is sure to find its way to the rest of the world, and it looks likely that in time it will incorporate itself into a permanent part of our everyday life.

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